RTLS for Healthcare Market Next Big Things 2027 - Top Companies Sanitag, Stanley Healthcare, Sonitor Technologies, Impinj, Intelligent InSites

Global RTLS for healthcare market, based on the application, was segmented as, inventory and asset tracking, patient and staff tracking, access control and security, environment monitoring, supply chain management and operation automation and others. In 2018, inventory and asset tracking held the largest share of the market, by application. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The benefits such as RTLS can automate inventory control, and thus this reduces the physically managing inventory which are labor-intensive, costly, and time-consuming these factors are anticipated to lead to the growth of the segment during the forecast period.

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The RTLS or real-time location system technology facilitates detection and tracking of the location of objects and people in real-time. The technology is widely popular across many verticals such as defense, retail, supply chain management and healthcare. The inculcation of these technologies in healthcare is increasingly gaining traction for improved services in hospitals and high returns on investment. The growth of the RTLS in healthcare market is attributed to the increased market competitiveness with the emergence of start-ups and benefits associated with RTLS. On the other hand, factor such as data security and privacy concerns associated with RTLS are limiting the growth of the market.

The RTLS in healthcare market was valued at US$ 1455.73 million in 2018 and it is projected to reach US$ 6384.45 million by 2027; it is expected to grow at a CAGR of 18.6% from 2019 to 2027.

The major players operating in the RTLS for healthcare market include, CenTrak, Impinj, Inc., Intelligent InSites, Aruba (Hewlett Packard Enterprise Development LP), Midmark Corporation, Sanitag, Sonitor Technologies, Stanley Healthcare and Teletracking Technologies among the others.

The market has witnessed various organic as well as inorganic developments during recent years in the RTLS for healthcare market. For instance, in July 2018, Zebra Technologies Corporation, the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, announced two new healthcare barcode printing solutions that can identify patients and specimens at the point of care.

The low cost of the Bluetooth LE tags technology makes it applicable in settings where these advanced systems not have been otherwise feasible. Moreover, Wi-Fi RTLS technology is more accurate than proximity-based RTLS options as Wi-Fi RTLS uses time-of-flight measurements which has relatively wide bandwidth. Also, GPS RTLS technology enables hospitals to track the assets that leave the hospital premises, this devices can be operated for an extended time without the requirement of external power.

The report segments the Global RTLS for healthcare Market as follows:

Global RTLS for healthcare Market - By Technology
RFID
Wi-Fi
Bluetooth
GPS
UWB
Others
Global RTLS for healthcare Market - By Facility Type
Hospitals and Healthcare Facilities
Senior Living Centres

Global RTLS for healthcare Market - By Application
Inventory and Asset Tracking
Patient and Staff Tracking
Access Control and Security
Environment Monitoring
Supply Chain Management and Operation Automation

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